3 Cryptos That Can Turn $1,000 Into $1 Million This Year: June 2024


  • Here’s a look at three cryptos to buy this month for its long-term potential. 
  • Chainlink Labs (LINK-USD): the company’s technology acts as a bridge between the crypto industry and the real world.
  • Tron (TRX-USD): Tron’s scalable and cost-effective features provide a powerful platform for developers to create dApps.
  • Uniswap (UNI-USD): the decentralized exchange powered by the Ethereum blockchain enables users to trade out of their wallet. 
cryptos to buy - 3 Cryptos That Can Turn $1,000 Into $1 Million This Year: June 2024

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Widely heralded as the ‘future of money,’ the top cryptos to buy have the potential to generate millions for savvy investors. The asset class once considered an obscure investment, was quick to gain the trust of many. In a few short years, it emerged as a major player in the financial landscape. Through the lens of decentralization, cryptos are disrupting traditional payment systems and creating a paradigm shift in how we engage with money. 

Cryptocurrencies, with a 10-year track record, are still very much in their infancy. But this hasn’t stopped companies from breaking barriers across industries. For investors, this innovative approach to solving real-world problems with technology and community has created new opportunities to make money. 

Crypto heavyweights like Bitcoin (BTC-USD) and Ethereum (ETH-USD) have commanded the highest market capitalizations. However, recent investor optimism has been directed towards alternative crypto assets. Given the number of altcoins, investing in high-utility cryptos is key to unlocking gains. 

Chainlink (LINK)

Chainlink cryptocurrency symbol. Cryptocurrency coin 3D illustration. Chainlink price predictions
Source: Gorev Evgenii / Shutterstock.com

Going back to my point on cryptocurrencies using innovation to solve real world problems, this is exactly what Chainlink Labs (LINK-USD) is doing. The company prides itself on linking crypto and the real world in a largely independent industry.

Blockchain networks- the backbone of cryptocurrencies, are self-sufficient and rarely interact with external sources. The lack of external data creates a problem for payment apps that require currency rates to execute transactions. Most can’t obtain the information natively. This is where Chainlink comes in. The company solves this communication issue with a decentralized network called Oracles. This software takes data from off-chain (external) sources and sends it to apps through smart contracts on the blockchain. 

This link has made Chainlink a vital resource for decentralized finance (DeFi) apps that rely on the technology for current information. The company has secured over $1.1 billion in crypto assets while forging strategic partnerships to further its mission. 

As with any crypto, Chainlink is a high-risk/high-reward play, but its utility makes it a crypto millionaire’s dream.

Tron (TRX)

The Tron (TRX-USD) token on a red background.
Source: Zeedign.com / Shutterstock.com

Another company that is doing big things on the blockchain is Tron (TRX-USD). Established in 2017, the company offers a comprehensive network for decentralized apps (dApps) that run independently on its network. 

Tron has three distinct features that give it a competitive edge: high transaction throughput, low costs and advanced governance. These features have elevated the company’s position in the decentralized web as they remain crucial for the efficient operation of dApps. Tron has quickly become the go-to platform for users seeking fast and scalable solutions. 

The company appeals to a broad user base through its platform’s diverse selection of dApps, which include apps across the finance, social media and gaming sectors. Tron’s acquisition of the file-sharing company BitTorrent helped increase transaction volumes on its blockchain network.

These innovations helped the company build a user base of nearly two million daily active users and attain a market cap of $10 billion. As Tron continues to enhance its ecosystem and expand its DeFi offerings, its growth potential remains limitless. Investors willing to bet on the future of blockchain will find Tron one of the most coveted cryptos to buy.  

Uniswap (UNI)

Uniswap (UNI) technical chart
Source: Chart by Josh Enomoto

The theme of cryptocurrencies has always been to let users have more control, and Uniswap (UNI-USD) brings this feature to crypto exchanges. Mainstream crypto exchanges like Binance and Coinbase are centralized and often controlled by one body that manages users’ funds. This raises concerns about liquidity, as low numbers in an order book make it harder to initiate buy and sell transactions. 

Uniswap combats this issue with a fully decentralized exchange (DEX). Utilizing an open-source network and an automated liquidity protocol, the Ethereum-powered exchange allows users to trade directly from their wallets. This means traders have complete control of their funds, removing the risk of assets being seized or frozen by a central authority. The exchange also uses a peer-to-peer trading model, which cuts out the middleman and lowers transaction fees. 

Uniswap controls over $6 billion in crypto assets and recently launched a V3 protocol with a tiered fee structure. The company has played a huge role in giving Ethereum a first-mover advantage in the DEX space. It is poised to serve as a hub for such trades in the future. The massive potential that DEXs offer puts Uniswap among the top cryptos to buy for future millions. 

On the date of publication, Divya Premkumar did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Divya has a background in finance and accounting and has worked in FP&A roles at Fortune 500 companies. She is an avid reader and enjoys writing on a variety of topics including stocks, crypto, blockchain and global policy.

Article printed from InvestorPlace Media, https://investorplace.com/2024/06/3-cryptos-that-can-turn-1000-into-1-million-this-year-june-2024/.

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